Assessing SAP's Economic Policy in the 1980s: The 'Third Way', the Swedish Model and the Transition from Fordism to Post-Fordism

Magnus Ryner
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Magnus Ryner: York University, Toronto

Economic and Industrial Democracy, 1994, vol. 15, issue 3, 385-428

Abstract: This paper applies a historical structural, regulation-theoretical approach to interpret Swedish economic policy in the 1980s. It is argued that the market-oriented long-term assumptions of the 'third way' were flawed, and constituted an inadequate response to the crisis of the Swedish (Rehn-Meidner) Model. It violated the already increasingly brittle terms of legitimation of the 'moral economy' of solidaristic wage policy. Although such a violation was reasonable, necessary (and accepted by the trade unions) in the short run, the failure of the policy to achieve a progressive trajectory in the transformation from Fordism to post-Fordism made it impossible to reproduce the conditions of the 'moral economy'. The paper is especially critical of the use of a 'norms-based' monetary policy, and the marginalization of collective capital formation policy and active industrial policy.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecoind:v:15:y:1994:i:3:p:385-428

DOI: 10.1177/0143831X94153004

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